OMERS ADMINISTRATION Corp Lowers Position in Textron Inc. (NYSE:TXT)

OMERS ADMINISTRATION Corp lessened its stake in Textron Inc. (NYSE:TXT) by 25.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,629 shares of the aerospace company’s stock after selling 7,361 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Textron were worth $1,654,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TXT. Czech National Bank raised its stake in shares of Textron by 5.4% during the 4th quarter. Czech National Bank now owns 40,223 shares of the aerospace company’s stock worth $3,077,000 after buying an additional 2,056 shares during the period. Eastern Bank acquired a new position in shares of Textron during the 4th quarter worth approximately $42,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of Textron by 34.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,617 shares of the aerospace company’s stock worth $889,000 after buying an additional 2,948 shares during the period. Merit Financial Group LLC raised its stake in shares of Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after buying an additional 265 shares during the period. Finally, HB Wealth Management LLC raised its stake in shares of Textron by 11.6% during the 4th quarter. HB Wealth Management LLC now owns 4,773 shares of the aerospace company’s stock worth $365,000 after buying an additional 496 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Robert W. Baird reduced their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. TD Cowen upgraded Textron to a “hold” rating in a report on Monday, February 24th. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $87.70.

Textron Stock Up 1.0%

Shares of TXT opened at $75.93 on Friday. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57. The company has a market capitalization of $13.71 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The stock has a fifty day simple moving average of $69.93 and a two-hundred day simple moving average of $75.69. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last issued its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the company earned $1.20 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron’s dividend payout ratio (DPR) is presently 1.81%.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents a 23.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.